Panic selling on Friday but Nifty closed above critical support.
Updated
Market Outlook For The Next Week:
It was a volatile week which saw ups and downs. Downs mainly due to huge sell off in HDFC Twins due to the rebalancing news of MSCI Index. The fall also cooled down RSI which has come down substantially. Closing of Nifty well above critical support level of 18029 shows that strength still might be left in NIFTY to rally again a bit further next week. Support and Resistance levels for Nifty for Next week are under.
Nifty Support Levels: 18055, 18029, 17936 and finally 17843.
Nifty Resistance levels: 18172, 18216, 18268 and finally 18425.
It was a volatile week which saw ups and downs. Downs mainly due to huge sell off in HDFC Twins due to the rebalancing news of MSCI Index. The fall also cooled down RSI which has come down substantially. Closing of Nifty well above critical support level of 18029 shows that strength still might be left in NIFTY to rally again a bit further next week. Support and Resistance levels for Nifty for Next week are under.
Nifty Support Levels: 18055, 18029, 17936 and finally 17843.
Nifty Resistance levels: 18172, 18216, 18268 and finally 18425.
Note
Nifty Stopped just below 18268 which was mentioned as a strong resistance. Crossing and closing above 18268 will open the doors for 18350 to 18425 zone. Again this will be a strong resistance zone to conquer. In addition to 18055, 18029, 17936 and 17843 supports mentioned earlier. 18172 and 18216 will also be support levels for Nifty for reminder of the week.
Happy Candles Investment
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